Nigeria Maintains Oil-Revenue Forecast Despite Decline

• Tuesday, 17th May 2016
• by Egypt Oil & Gas

Nigeria maintained revenue forecast for this year’s budget based on daily oil production of 2. 2m barrels despite output falling over the April, reaching a 22 year low currently. The government of Africa’s biggest eco...

Iraq Faces Oil Projects Delay As Firms Resist Spending Cuts

• Sunday, 15th May 2016
• by Egypt Oil & Gas

International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, Reuters reported. Oil companies helping Iraq develop it...

Russian Oil Output Hits Record, Oil Freeze in Doubt

• Tuesday, 5th April 2016
• by Egypt Oil & Gas

Russia’s oil output set a post-Soviet high in March. The production of crude and a light oil, called condensate, climbed 2.1% from a year earlier to 10.912mb/d, according to the Energy Ministry. The amount narrowly be...